Inter's Financial Situation

[.h.]

I think as someone said previously theres definitely a component of turning credit into liabilities - e.g. some of those unpaid sponsorship moneys we would have accrued. But its still way worse than I expected.

 

[DARi0]

So we recorded the biggest loss in the history of Italian football. 245.6m.

GdS: Record loss
Inter the nightmare of finances
-€246m in 2021
A loss of €100m foreseen in one year

Anyone has the Gazzetta article translated? This is way beyond our most pessimistic expectations. Where are Nyall and Azzkikr?

Alessandro Antonello explains the Nerazzurri’s financial losses and confirms the club paid salaries entirely over the last two seasons.

Inter confirmed the club ran at a loss of €245.6m in 2020-21, the highest ever deficit in the history of Serie A.

They sold Romelu Lukaku and Achraf Hakimi for a combined €185m fee in the summer for to keep the books balanced.

“The club’s financial situation is safe,” Antonello told Il Sole 24 Ore.
“The stadium’s closure in the year of the Scudetto ride, however, took away from Inter about €60m revenues.
“We didn’t get further €50m because of the mandatory renegotiation of sponsorship contracts, especially with agencies in Asia and China, because of the block of corporate hospitality,” the club’s Corporate CEO continued.
“But beyond that, the loss is composed of several unique elements that will no longer recur in the future.
“What I would like to highlight is the fact that at the end of these two years, Inter have paid all salaries in full, in addition to €9m Scudetto bonuses. We’ve also paid the wages for July and August and we haven’t made anyone redundant.”

That`s 110m dude, not even half of it. What about the rest?! Can`t be just the golden handshakes

 

[rfU]

Why's everyone panicking? Roma reported loses of 200M+ in 2019-20 and are still standing without any major loses even adding an expensive manager in Mourinho. Milan were at 195M in 2019/20, and now at 90M. With the sales of Lukaku and Hakimi (170M) isn't this manageable? It's not like we made Barca-like loses (400M+) and at least we have a trophy to show for it.

 

[CafeCordoba]

Yeah but if it's precedence, it's not pretty. Like if we make -100m€ this season while we have 170m€ worth of sales booked (about 75m€ that was plusvalenza ie. profit), questions will be asked how much we need to sell next summer?

Well, reporters have already said we don't have to sell big players so let's see.

This will require new ownership and I think we will get one.

 

[dedalus77]

https://twitter.com/x/status/1443625466473193473

Check this tweet thread. If you don't know Italian, you can just google-translate it. It worked fine when I tried it.

GdS: Record loss
Inter the nightmare of finances
-€246m in 2021
A loss of €100m foreseen in one year

Anyone has the Gazzetta article translated? This is way beyond our most pessimistic expectations. Where are Nyall and Azzkikr?


That`s 110m dude, not even half of it. What about the rest?! Can`t be just the golden handshakes

 

[Il Drago]

Anyone has the Gazzetta article translated?

Here it is.

Inter’s Corporate CEO Alessandro Antonello On Financial Situation: “All Salaries Were Paid In Full & No One Lost Their Jobs”​

Inter’s CEO of the corporate side of the club has focused on the positives after the club announced record losses for the past financial year, according to a report in the Italian media.

Speaking during an interview with Il Sole 24 Ore, Alessandro Antonello explained that despite the incredibly difficult financial situation that the club found itself in, the salaries of everyone at the club have been made and no one has lost their jobs.

“What I would like to emphasize is the fact that at the end of these two years, Inter paid all the salaries in full, as well as €9 million in bonuses for the scudetto, and also paid the emoluments for July and August. No employees lost their jobs.”

Inter announced losses of just over €245 million and Alessandro Antonello explained which factors led to the biggest financial loss that a Serie A club has ever recorded.
Examples include the closure of San Siro for matches to be played behind closed doors and the effect that no supporters had on hospitality packages and sponsorship deals.

“The closure of San Siro, moreover, in the year of the title, stole about €60 million revenues from Inter. And another €50 million was lost due to the forced renegotiation of sponsorship contracts, especially with agencies in Asia and China, and cause of the block of corporate hospitality.

“But beyond that, the loss is made up of several extraordinary elements that will not happen again.”

The future looks brighter for Inter in a financial sense after the sales of Romelu Lukaku and Achraf Hakimi and the loan from Oaktree.

“Today the club is safe, thanks also to the €75 million of income deriving from the sale of Achraf Hakimi and Romelu Lukaku, the reopening of the facilities, new sponsors, €75 million of the €250 disbursed by Oaktree on loan, €20 million in trade receivables unlocked by Suning.

“Between the end of November and mid-December, we plan to renegotiate our bonds for an amount of €400 million.

“Our advisors are already at work. And the abundant liquidity circulating on the markets makes us assume that we will not have difficulty in finding good deals and good rates.”

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Most Of Inter’s Oaktree Loan Has Not Yet Been Used By Suning, Italian Media Report​

The majority of the large loan that Suning has secured from Oaktree Capital Group has still not actually been used by the Chinese owners, according to a report in the Italian media today.

As has been reported by La Gazzetta dello Sport, only €80 million of the €275 million that was loaned to Suning by Oaktree Capital Group has been invested into the football club so far.

All the other money that the club has made in the mean time has come from the sales of Achraf Hakimi and Romelu Lukaku to Paris Saint Germain and Chelsea respectively and the increased revenue of the new sponsorship deals.

That means €195 million of Oaktree Capital Groups money is still resting in the accounts of the Suning Group and could be used to help the club financially whenever they choose to use it.

There is reportedly not currently a need for Suning to use this money.

 

[.h.]

seems stupid to be paying 12%interest then

 

[William]

Yeah if we’re paying 12% on money just resting in the account then do we just like burning money then??

 

[Ethor]

seems stupid to be paying 12%interest then

Agreed, unless the monies has been invested to make greater than 12%.

 

[CafeCordoba]

Inter is surely not paying that Oaktree loan interest. At least I assume since that loan is not Inter's loan.

 

[.h.]

well considering the zhangs are broke and cant get money out of China, I dont see any other way for us to be getting that loan really.

 

[bandiera]

Guys, don't worry. I know the perfect person to rescue the club from its struggles and restore our spending power to the level of the richest in Europe.

His name is... Kenny Huang.

 

[PHM1605]

PIF, who was strongly linked to buying Inter from Suning, has decided to buy Newcastle instead They are 10 times richer than Sheikh Mansour (ManCity owner).

The reason is that Suning is not willing to sell the majority. There goes my hope ffs. Not sure if I can stand another Thohir-esque summer Mercato.

 

[.h.]

They've been linked to Newcastle since well before Inter. Also they've made clear to jot expect too much money going in.

 

[Il Drago]

PIF, who was strongly linked to buying Inter from Suning, has decided to buy Newcastle instead They are 10 times richer than Sheikh Mansour (ManCity owner).

The reason is that Suning is not willing to sell the majority. There goes my hope ffs. Not sure if I can stand another Thohir-esque summer Mercato.

Suning probably want to keep hold of the club till they have an agreement with city council over new Meazza. The stadium project is the only reason a fund would offer anything close to Suning asking price for the club.

 

[YoramG]

And the city council will never agree while the Zhangs are in charge. Sala has been consistently casting doubt on their financial possibilities for the last year or so.

 

[PHM1605]

Suning probably want to keep hold of the club till they have an agreement with city council over new Meazza. The stadium project is the only reason a fund would offer anything close to Suning asking price for the club.

“...till they have an angreement with city council over new Meazza”.

Then I check the New stadium thread, when was it? 2006 It has been “promised” for, what, nearly 20 years?

Hope I am still alive when the new stadium is established, if any. Biggest lie of the century.

 

[bubba zanetti]

Saudis are definitely taking Newcastle. Theres no sugar daddy to rescue us.

 

[Bluenine]

PIF, who was strongly linked to buying Inter from Suning, has decided to buy Newcastle instead They are 10 times richer than Sheikh Mansour (ManCity owner).

The reason is that Suning is not willing to sell the majority. There goes my hope ffs. Not sure if I can stand another Thohir-esque summer Mercato.

PIF are not interested in buying Inter now, but the rumours here are that they may be interested in buying Martinez and Skriniar for Newcastle. Fucking Suning don't want to sell a club they cannot afford, but I'm sure they will be ok in selling our best players.

Fuck Suning.

 

[.h.]

Only way that happens is if they get into the CL. They're both paid pretty well at Inter so I dont think money will make them jump.

And they won't make the CL in the next 18 months.